<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The article refers to the new Synthetic Efficiency Indicator for Economic Growth (SEI-EG) proposed in an earlier publication. Research from 2016–2018 in 11 EU countries revealed small nations were notably more effective at sustainable growth than their larger counterparts. This prompted the authors to ask about the differences between small countries with developed economies and small countries with lower levels of development joining the EU in 2004. The article aims to determine the relative efficiency of transforming growth inputs and debt into sustainability outcomes for small countries in the EU using the SEI-EG index over the period 2016–2020. The study group symmetrically includes six countries each from developed economies and six countries that joined the EU in 2004. The adopted indicator complements the expanded SDGs and aligns with the trend linking research inputs to sustainable development effects.</p>
</abstract>

The article refers to the new Synthetic Efficiency Indicator for Economic Growth (SEI-EG) proposed in an earlier publication. Research from 2016–2018 in 11 EU countries revealed small nations were notably more effective at sustainable growth than their larger counterparts. This prompted the authors to ask about the differences between small countries with developed economies and small countries with lower levels of development joining the EU in 2004. The article aims to determine the relative efficiency of transforming growth inputs and debt into sustainability outcomes for small countries in the EU using the SEI-EG index over the period 2016–2020. The study group symmetrically includes six countries each from developed economies and six countries that joined the EU in 2004. The adopted indicator complements the expanded SDGs and aligns with the trend linking research inputs to sustainable development effects.

Efficiency ranking of economic growth toward sustainable growth with grey system theory: the case of small countries in advanced and emerging economies

International Journal of Management and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The article refers to the new Synthetic Efficiency Indicator for Economic Growth (SEI-EG) proposed in an earlier publication. Research from 2016–2018 in 11 EU...

Efficiency ranking of economic growth toward sustainable growth with grey system theory: the case of small countries in advanced and emerging economies

Article Category: Empirical Paper

Published Online: Sep 30, 2023

Page range: 183 - 196

Received: Dec 21, 2022

Accepted: Apr 29, 2023

DOI: https://doi.org/10.2478/ijme-2023-0013

Keywords
economic convergence, economic growth, gray system theory, gray whitenization, sustainable development

© 2023 Marcin Nowak et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Efficiency ranking of economic growth toward sustainable growth with grey system theory: the case of small countries in advanced and emerging economies

Article Category: Empirical Paper

Published Online: Sep 30, 2023

Page range: 183 - 196

Received: Dec 21, 2022

Accepted: Apr 29, 2023

DOI: https://doi.org/10.2478/ijme-2023-0013

Keywordseconomic convergence, economic growth, gray system theory, gray whitenization, sustainable development

© 2023 Marcin Nowak et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
economic convergence, economic growth, gray system theory, gray whitenization, sustainable development